ChartSmarter has been at it now writing comprehensive daily Game Plans for more than 5 years now. Below is a sample of some of our ideas from the past week which worked out. Each night we scour hundreds of charts to bring what we feel have the best set ups for the following trading day. Lets take a look at some longs that are working at the moment.
In Mondays Game Plan we looked at NOW and SNA to name a few. NOW, an IT play, is now on a six session winning streak and recorded its first back to back weekly CLOSES above the round 80 handle and now trades at all time highs. SNA, an industrial name, broke above a double bottom with handle trigger on Tuesday and now sits at all time highs and it may have recorded a double top Friday just above the round 170 handle with the 8/18 session or it is about to motor higher. A buy above 171 could have this name seeking powerful gains into year end. Below is how they names were looked at exactly in our daily reports.
Stocks that can be bought as they retest former breakout triggers are NOW. NOW is an IT play higher by 20% YTD and 25% over the last one year period and is just 2% off all time highs. It has been solid in delivering earnings higher by 6.7, 3.9 and 7.2% on 10/22, 7/30 and 1/29 (it fell 11.5% on 4/17). The round 80 handle has posed problems for NOW with just 4 weeks CLOSING above it weeks ending 4/10, 6/19, 7/31 and this week. The stock is on a current 4 week winning streak following a bullish hammer the week ending 10/2, which finished 8% off intraweek lows. NOW took out an 81.31 double bottom trigger on 10/28 and lets look to enter here on a retest.